RITES shares in focus after signing MoU with Shree Cement

Shares of RITES are likely to be in focus on Thursday after the company announced it has signed a Memorandum of Understanding (MoU) with Shree Cement. The agreement pertains to the development of rail infrastructure and allied services.

In a regulatory filing, RITES informed the exchanges about the MoU, stating that the collaboration aims to facilitate infrastructure-related services in the rail sector.

“Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that RITES has entered into an MoU with M/s Shree Cement Limited for the development of rail infrastructure and allied services,” the company said.


No additional details regarding the contract size were disclosed.

RITES Share Price Performance

Over the past one year, shares of RITES have declined by 19.12%. In the last six months, the stock has seen a marginal dip of 0.86%. However, short-term performance has been strong, with a 35.16% gain over the past three months and a 22.91% rise in the last one month.

On Wednesday, RITES shares closed 3.95% higher at Rs 287.45 on the NSE.

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